China’s central bank sets the daily USD/CNY reference rate at 6.7894, a marginal depreciation from Thursday’s 6.7892 fix.
The People’s Bank of China set the USD/CNY reference rate at 6.7894 for Friday’s trading session, compared with 6.7892 the previous day. The adjustment marks a minor weakening of the yuan’s midpoint fix, reflecting recent currency market movements.
The PBOC’s daily fixing serves as a benchmark for onshore yuan trading, with the currency allowed to fluctuate within a 2% band. The central bank’s tools, including foreign exchange interventions and the Loan Prime Rate, influence the exchange rate to maintain stability amid broader monetary policy objectives.
No immediate market reaction was reported following the announcement, which aligns with the PBOC’s routine daily setting process.